PhonePe to digitise 25 million small merchants in India
Flipkart-owned PhonePe on Monday said it will enable digital payments for over 25 million small merchants across India in the next one year.
The company will also onboard these ‘kiranas’ on its ‘PhonePe for Business’ app, offering them end-to-end control of payment process, including instant payment confirmations, receipts and reconciliations, a statement said.
PhonePe plans to reach 5,500 talukas via its merchant acquisition team that will lead to over 10,000 jobs being created in semi-urban and rural areas, it added.
Despite the rapid penetration of digital payments, kiranas across India still rely on cash, it said.
Kirana owners have smartphones, data and the aspiration to adopt newer technology, and are looking to acquire customers and forge deeper relationships with them.